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COKER, J.S.C. (Delivering the Leading Judgment): The appeals have not raised any fundamental issue as all parties concerned agree to the appeals and indeed asked that they should be allowed. Both the Nigerian Acceptances Ltd. and the West African Steel and Wire Ltd. have contended before us that the Terms of Settlement filed by the parties concerned-Leo the company to be wound-up (West African Steel and Wire Ltd.) and the petitioners for winding-up (Messrs. Coutinho Caro and Co.) are agreeable to all the other creditors of the company and that in the event the learned trial judge should have made the order of winding-up sought.
We are of the view that the learned trial judge in refusing to make the order on the grounds that neither section 209(e) nor section 321 of the Companies Decree entitled him to make the order sought, clearly overlooked the provisions of Rule 227 of the Winding-up Rules which apply to these proceedings the general rules of court in civil cases. In the present ma…